Bybit challenges Wall Street with a massive push into tokenized U.S. stock IPOs

MarketsShareShare this articleCopy linkX iconX (Twitter)LinkedInFacebookEmailBybit challenges Wall Street with a massive push into tokenized U.S. stock IPOsRetail investors can now buy shares at official underwritten prices through the crypto exchange, bypassing Wall Street’s exclusive pre-IPO clubs.By Olivier Acuna|Edited by Jamie Crawley Jun 8, 2026, 11:34 a.m. 2 min readMake preferred on What to know: Bybit has launched its IPO Express service to offer tokenized access to SpaceX’s highly anticipated public listing, positioning itself as the second crypto exchange after Kraken to provide tokenized IPOs.Unlike earlier pre-IPO derivatives from exchanges like Binance, Bitget and Gate, Bybit’s offering lets eligible retail investors subscribe to tokenized representations of actual publicly traded equities at IPO pricing.The SpaceX IPO registration on Bybit runs from June 7 to 11, with allocations and spot trading of the token beginning June 11 and 12, as SpaceX targets a $75 billion raise at a $1.75 trillion valuation.Bybit, the world's second-largest crypto exchange by trading volume, has joined the tokenization race to capture the highly-anticipated public listing of SpaceX later this week with its new Bybit IPO Express service.The Dubai-based exchange is the second crypto exchange to offer tokenized initial public offerings (IPO) following Kraken. Its parent company Payward said it would soon allow its Kraken customers and xStocks alliance members to participate in U.S.-listed IPOs through tokenized shares.Binance, Bitget and Gate previously offered pre-IPO markets in the form of derivatives. That means investors are not actually buying the actual shares.price. Instead, they are betting on a prediction market or trading IOUs based on what they believed the company would be worth.Bybit'sIPO services are powered by Payward Services' xStocks and are eligible retail investors worldwide who can participate in blockbuster IPO projects by subscribing to tokenized repre…

Bybit challenges Wall Street with a massive push into tokenized U.S. stock IPOs

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